On Monday, December 13, at the end of the day, bitcoin fell by 6.7% to $46702. It’s the tenth day since the price is inside the daily candle from December 4 — the day when the market collapsed to $42 thousand for bitcoin.
The week opened with a decline for bitcoin, which intensified in the American session. During trading in New York, the BTC/USD pair declined to $45673. The crypto market collapsed against the background of the general strengthening of the dollar in the global currency market, as well as the fall of stock indices. The media began to escalate the situation after Britain reported the first death associated with the Omicron strain. British Prime Minister Boris Johnson said that he does not rule out tightening anti-smoking restrictions.
US stock markets opened lower, which immediately had a negative impact on other markets.
Bank of America (NYSE:BAC) recommends investors to sell stocks, explaining that on Wednesday the Fed will raise rates and then it will be too late to sell the stocks that have been strangled. The S&P500 index fell 0.91% to 4668.
On Tuesday, December 14, the dollar index futures are declining. Buyers could not pass the resistance of 96.45 p. The index dropped from 96.46 to 96.07. Against this background, the upward correction in the cryptocurrency market has intensified. The BTC/USD pair stopped at $47,880. Sellers have expanded the lower limit of the price range, and now the price is returning to the level of $49077 per bitcoin with maximum trading. We can say that the $49k level is the center of the $45673-51936 range.